The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-11-05
APPROVAL OF THEGAS TRUST
Members of the Builders Exchange In
dorse 1t, and Subscribe to the Stock.
The Enterprise Meets with General Encour-
agement through Ward Meetings, and the
Active Efforts of Business Men.


for the present is directed solely in getting sub
scriptions to stock. There is. too. considerable
hopetulness among the people to the outcome
of the movement and it is trouble TO get a
large number to subscribe. What the commit
tee of lawyers said IN indorsing the enterprise
has had great deal to do in giving subscribers
confidence in it. although many can be found
who still inquirers TO what the effect of
certain possibilities will be-. But they hardly
ripple of doubt in the general mind for the
statements of the gentlemen who are responsible
for the movement are accepted without ques
ton, and appeals for all persons give their time
and influence in aiding the trust meet with gener
responses. The manner in which the Build
ers Exchange, last night, took up the movement
can serve as type of the feeling that is mani
tested in all gatherings where the Consumers
Gas Trust is explained j. c. Adams. of the
Exchange prepared the way for the talk on this
question by Introducing resolution commit
ting the Exchange to a support OF the trust. He
believed in the practicabilitv of the scheme aud
the benefits that would accrue to the city in OBJ
tanning gas at prices that would not be deemed
luxurious or exorbitant
A. F. Potts. secretary of the trust. told the
twenty-five thirty builders and contractors
who heard him. that the introduction of natural
ing interests. 1t meant the construction of new
houses, and the altering and repairing OF old
buildings. 1t meant employment for many who
had none now, and above all. it meant a cheaper
ing of fuel that would bring capital factories and
workingmeE to the city. Years ago Indianapo-
lis had a real-estate boom, but it was based en-
nothing but exaggerated values represented
paper; but here fuel in the
b6
made almost as free as air 1t would
cost nothing except to drill wells and
lay the pipe iine There monopoly in it,
although ten resolute men trying to build
mp for themselves large fortunes out OF this
fuel that nature has bountifully prepared for
the peoples use. He asked every body to join
the army to defeat the monopoly. the people
never had better opportunity than now to
fight it. Ii the trust scheme is success the
name of Indianapolis will be carried through
out the land. Mr. Potts welt on the results
that would follow the introduction of gas by
means in which not only every stakeholder, but
every person in the city equally interested.
He said that it would be possible then. in four
years hence, to get gas at one cent per thousand
feet. It matters not if the Council has the
temerity to raise the ordinance prices to 10 or
20 cents per thousand; it matters not whether
the other company brings its pipes to the city;
the people will wait for the Consumers Gas
Trust. The speaker was frequently applauded.
VIM. Brown. the attorney of the board said
that SO far as he could learn there were not two
opinions to the liability of the stockholders,
which Mr. Potts explained extended only TO the
amount of stock Subscribed and to the expenses
questions forever settled as the legality of the
enterprise was based on the opinions of some of
the best lawyers in the State. IF you get
cheap fuel for the laborIng man, the employer
and manufacturer" he said, ''rhere will be
trouble about the city growing" As for him |
self he would take at the cost of coal fGt the
convenience alone, but many people could not |
do that By this plan everybody can get cheap |
gas, and there will not be a few men make |
million two out of il.
Other speeches of like tenor were made, after |
which the Exchange adopted the Adams resolu- |
ton to the effect that the Consumers Gas |
Trust Company now being offered to this com |
munity is entitled to the active and substantial |
aid, unqualified support and hearty Endorsement
of the members of this Exchange and the cti-
the members Heartily pledge themselves by in
fuence and personal effort to make the Consum-
ers' Gas Trust Company pronounced and I'M
qualified success" and that the recent general |
natural gas ordinance passed by the Council and
Board of Aldermen fully meets the requirements
OF all, and has our approval and Endorsement.
and should not be changed or amended to suit
the demands OF any corporations or persons"
Mr.. Adams said the Adams Brick Company had
already subscribed to $500 worth of stock, and
that he himself would take 81. 900 additional.
Hetherin gton d Berner subscribed to 81, 800 NJ
s. Huey said that he had filed Tho subscription
book, mad another partly completed and expected
to get altogether So. 900 in subscriptions. Other
proffers were made, the amounts altogether
yregating So. 500.
Colonel Lilly, who has charge of the distribu-
ton of subscription books, had at n late hour
afternoon given out $50. During the
lay South Meridian street had been thoroughly |
resulting in finding subscribers in
nearly every store and business house. Alfred
Burdsal took ST 900 worth of stock, and said if
more was needed be stood ready to put his sub
,cription up to $1,000 gentleman whose
name was not given expressed his willingness
20 pay in 50. 600 at once as a special investment
Colonel Lilly has no means Of estimating accu-
rately the total number of shares taken, but |
rom his talks with various canvassers he thinks
$3.50, 600 was subscribed Thursday, and that last
evening closed with 1925 600 the share books.
The directors held meeting last night at
which several gas properties considered.
N a general circular issued yesterday they say:
THE supply of gas and gas territory which this
company has at Its disposal is ample to supply
The whole city. and within ten days after the
$500 900 stock is subscribed will be the
property OF the company. 1t is the intention of
The company to begin operations Immediately
lpon raising the necessary subscriptions. The
directors have propositions in their hands cover
ng many thousand acres of the best gas lands
It Noblesville. Greenfield and the intervening
erritory. including some of the best wells in the
State"
The. Capital City has offered its wells and
eases to the trust for 500. 900, half of which
{ will take in stock. In developing the Mobiles
7ille fields, however, it is understood that out
tide of the property of the Cooper syndicate.
which the company can get, arrangements will
,e made with farmers owning gas lands.
Tonight meetings in the interest of the trust
will be held in the Fifth ward the corner of
illinois and First streets, in the Sixth at the
orner of Fort Wayne avenue and ST. Clair
rreet, in the Seventh at No. 2 engine house.
y the Ninth at the Mayors Office and in the
eleventh at fire headquarters on Massachusetts
The Twenty-frst ward citizens will
ave a meeting on Monday night a. Prospect
treet engine house, the Twenty-third on Tues
lay evening at No. 573 South Meridian street.
md the Nineteenth Wednesday evening at |
7lrginia-avenue Rink.
The directors OF the Indianapolis company
we're at Noblesville yesterday, inspecting the
work at that point, and New Bri-
ain. five miles south. At both places there are |
everal cars of pipe, the laying of which will be-
IN next week. although large force of men |
we're digging in the trenches yesterday along the
lake Erie & Western railway The flow from
ne of the largest wells in the district is to be